Sec. 6. New bend point for amounts above contribution and benefit base
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/bill/113/hr/1374/ih/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 215(a)(1) of the Social Security Act ( 42 U.S.C. 415(a)(1) ) is amended— in subparagraph (A)— in clause (ii), by striking and ; in clause (iii), by striking the comma at the end and inserting the following: but do not exceed the amount established for purposes of this clause by subparagraph (B), and ; and by inserting after clause
(iii)the following: 3 percent of the individual’s average indexed monthly earnings to the extent that such earnings exceed the amount established for purposes of clause (iii), ; and in subparagraph (B)— by inserting and before 2015 after 1979 in clause (ii); by redesignating clause
(iii)as clause (v); by inserting after clause
(ii)the following: For individuals who initially become eligible for old-age or disability insurance benefits, or who die (before becoming eligible for such benefits), in the calendar year 2015— the amounts established for purposes of clauses
(i)and
(ii)of subparagraph
(A)shall be the amounts so established under clause
(ii)of this subparagraph for such calendar year; and the amount established for purposes of clause
(iii)of subparagraph
(A)shall be the amount of the contribution and benefit base with respect to remuneration paid (and taxable years beginning) in calendar year 2015. For individuals who initially become eligible for old-age or disability insurance benefits, or who die (before becoming eligible for such benefits), in any calendar year after 2015, the amount so established shall equal the product of the corresponding amount established with respect to the calendar year 2015 under clause
(iii)of this subparagraph and the quotient obtained by dividing— the national average wage index (as defined in section 209(k)(1)) for the second calendar year preceding the calendar year for which the determination is made, by the national average wage index (as so defined) for 2013. ; and in clause (v), as so redesignated by subparagraph
(A)of this paragraph, by inserting and clause
(iv)after clause
(ii). The amendments made by this section shall apply with respect to individuals who initially become eligible (within the meaning of section 215(a)(3)(B)) for old-age or disability insurance benefits under title II of the Social Security Act, or who die (before becoming eligible for such benefits), in any calendar year after 2014.
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Sec. 6
New bend point for amounts above contribution and benefit base
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